Discover trends, market shifts, and competitive outlooks for the blockchain industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

How Fast Is The Blockchain Market Expected to Grow Between 2025 And 2029?

The expansion of the blockchain market size has been remarkable in the past few years. It is projected to inflate from $28.93 billion in 2024 to a whopping $49.18 billion in 2025, with a compound annual growth rate (CAGR) of 70.0%. The substantial growth in the historical period is credited to the rise of bitcoin, acceptance of cryptocurrency, initial coin offerings (ICOs), corporate exploration, and the rollout of smart contracts.

In the upcoming years, it is anticipated that the blockchain market size will exhibit massive growth, expanding to $216.82 billion in 2029 growing at a compounded annual growth rate (CAGR) of 44.9%. The predicted growth during the forecast period is linked to initiatives for environmental sustainability, advancements in smart contracts, concentration on privacy and security, interoperability solutions, and adoption by governments and institutions. Key trends in the forecast period encompass the tokenization of assets, decentralized finance (DEFI), NFTs and digital ownership, increased scalability, and corporate adoption.

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What Are the Major Market Drivers Behind the Rising Adoption of Blockchain Market?

The increasing requirement for blockchain across various sectors and public organizations is anticipated to fuel the expansion of the market. Being a decentralized database, blockchain serves as the foundation for cryptocurrencies and has thus found critical application in financial services to enable secure, safe, and transparent digital transactions. Enterprises like Circle and BitPesa harness the power of blockchain for making international transfers. However, its application isn’t limited to just financial services, it has penetrated into sectors like supply chain, healthcare, and government. All government-associated financial transactions in Dubai, for instance, are conducted via blockchain technology, making it the pioneer government to leverage blockchain. Beauhurst, in September 2024, noted that there were 546 active and dormant firms functioning within the UK’s blockchain sector. Since this sector is still burgeoning, a substantial 60.4% of these companies are categorized in the seed stage, with 20.6% in the venture stage, and merely 3.0% reaching the growth stage. Most of these firms (86.8%) are channeling their efforts into creating application software and interestingly, 33.7% are also actively participating in the fintech industry. Consequently, the growing need for blockchain in various fields is set to propel the blockchain market.

Which Key Market Segments Comprise the Blockchain Market and Drive Its Revenue Growth?

The blockchain market covered in this report is segmented –

1) By Type: Private, Public, Hybrid

2) By Provider: Application, Middleware, Infrastructure

3) By Application: BFSI, Telecom And IT, Government

Subsegments:

1) By Private: Permissioned Blockchain, Consortium Blockchain

2) By Public Permissionless Blockchain, Open Source Blockchain

3) By Hybrid: Combination Of Private And Public Elements, Interoperability Solutions

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Which Areas Are Leading Regions in the Blockchain Market Expansion Across the Globe?

North America was the largest region in the blockchain market in 2024. Asia-Pacific was the second largest region in the global blockchain market share. The regions covered in the blockchain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Are the Strategic Trends Steering theBlockchain Market Direction?

The potential trend that could shape the blockchain market in the coming years is anticipated to be Federated blockchain, also known as a consortium blockchain. This private, permission-based blockchain allows multiple parties to access the network through a voting or token system. The decentralization feature is maintained through the pre-selection of authoritative nodes by the network’s organizations, which can allow for continuous exchange of data or information. For instance, in August 2022, Devon Energy Corporation, an American energy company, became a part of Blockchain for Energy, a consortium composed of industry specialists from large-scale energy firms. This consortium will provide assistance to Devon Energy in elevating and revolutionizing its transaction, records, and data management through cooperative effort and preemptive advancement of novel technologies.

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How Is the Blockchain Market Conceptually Defined?

Blockchain is an immutable shared ledger that records online transactions, tracks assets, and builds trust in a business network.

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